For most expats making an international relocation to London, temporary job assignments, terms of study, or simply uncertainty about how long one will live abroad are usually valid reasons why renting a London apartment versus buying a home in the UK probably makes more sense. (For discussion on whether to rent or buy, see my earlier post, “Whether to Rent or Buy for Your Relocation to London”)

But if you do ultimately make the decision to buy here, perhaps after you’ve already rented for the short-term, there are a couple property terms related to home ownership in the UK that continually stump expats: a freehold versus a leasehold. So allow me to clarify…